Julia Roberts deposits 4600 dollars in an account paying an effective rate of interest of 5.2 percent. Three years later, she withdraws 1500 dollars. If there are no other transactions, how long will it take (from the time of the first deposit) for her account balance to reach 8200 dollars? (Assume simple interest between compounding.)
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- Jean deposited P1,000, P1,500 and P2,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 0.06 per annum. Determine the future worth of the deposit? Note: Interest is already shown in decimal form. Do not round in between solution. Final answer round to the nearest WHOLE NUMBERHarper Lee made deposits of $900 semiannually to Mockingbird Bank, which pays 6% interest compounded semiannually. After seven years Harper made no more deposits. What will be the balance in the account eight years after the last deposit? (Use Tables)Diane borrowed $8000 at a rate of 7.5%, compounded monthly. Assuming she makes no payments, how much will she owe after 9 years? Do not round any intermediate computations, and round your answer to the nearest cent.
- Seven years ago Ruby began depositing $500 at the beginning of each month into an account. The interest rate was 1.48% compounded monthly. Answer the following questions, and round all answers to two decimal places where necessary. Choose BGN or END? Ⓒ 1) What is the present account balance P/Y= PV = $ esc P/Y= PV = $ Submit Question 1 C/Y= 2) If she stops making deposits immediately, how much will be in the account in three and a half years from now, if the interest rate remains the same (1.48% compounded monthly)? F1 PMT= $ C/Y= PMT= $ 2 F2 N= #3 N= FV = $ 80 F3 FV = $ I/Y = Q F4 I/Y = % 9 F5 % % F6 F7You invest $ 4,060 in an account today. You make no additional deposits into the account. One year from today there is $ 5,140 in the account. What is the nominal interest rate that you earned on your money? (Record your answer as a percent rounded to 1 decimal place; for example, record .527945 = 52.8% as 52.8). Your Answer:Ligaya places Ph 6,553 in a BDO account that accrues interest compounded continously. Ligaya did not make additional deposits nor withdrawals on the account. the Interest rate is a constant 5.89 percent for the first 5 years and a constant 10.29 percent for the last 5 years. How much in Php will be in Ligaya's BDO account after the end of the last 5 years?
- Asa Khumalo purchased a vehicle to the value of R224987 today and expects to make repayments for the next 7 years. The bank charges Asa at 12% pa compounded monthly. Asa believes that between months 18 and 21 she will not be able to make payments. What will Asa's new payments be over the remaining term.Sara calculates that if she makes a deposit of $8 each month at an APR of 3.6%, then at the end of two years she'll have $194. Lee says that the correct amount is $215. The Regular Deposits Rule of Thumb should be helpful here. What was the total amount deposited (ignoring interest earned)? $ What would the balance be if the total amount were deposited at the beginning of the two years? (Assume no additional deposits are made and the money compounds monthly at an APR of 3.6%)Go-Fast invests $20,000 in a certificate of deposit that mature safter 7 years and pays 9 percent interest, which is compounded annually until the certificate matures.a. How much interest will Connect earn if the interest is left to accumulate?b. How much interest will Connect earn if the interest is withdrawn each year?c. Why are the answers to a. and b. different?
- Diane received a $1200 bonus. She decided to invest it in a 2-year certificate of deposit (CD) with an annual interest rate of 1.13% compounded monthly. Answer the questions below. Do not round any intermediate computations, and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Assuming no withdrawals are made, how much money is in Diane's account after 2 years? (b) How much interest is earned on Diane's investment after 2 years?You want to withdraw $ 54,777 from your account at the end of one year and $ 10,521 at the end of the second year. How much should you deposit in your account today so that you can make these withdrawals? Your account pays 12 percent p.a. (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85).If you withdraw part of your money from a certificate of deposit before the date of maturity, you must pay an interest penalty. Suppose you invested $5000 in a one-year certificate of deposit paying 8.5% interest. When you decide to withdraw $5000 early, your interest penalty is 3 months simple interest on the $5000. What interest penalty do you pay? (Round your answer to two decimal places.)$